GMR Group’s Delhi International Airport (DIAL) is discussing the possibility of raising $350 million through a debt issuance, in order to refinance existing dollar bonds. The company is in talks with bankers, including HSBC and JP Morgan, to gauge investor interest. The proceeds from the bond will be used to refinance a $450 million note due in October 2025. The GMR Group plans to use the funds to increase passenger capacity and complete the Phase III expansion of the airport before April 2024.
Delhi International Airport Ltd (DIAL), led by the GMR Group, reports that airlines have submitted requests to cancel 80 departing and arriving domestic flights each for the G20 Summit. DIAL assures that the airport is well-equipped with ample aircraft parking space during the summit. The flight cancellations are due to traffic restrictions imposed for the event. DIAL spokesperson vows to work with the airlines to minimize inconvenience caused to passengers.
